MEGAWORLD Corp. is developing its first “smart” township in Mindanao, as it starts rolling out its iTownship concept nationwide.
In a statement, Megaworld said Davao Park District will be classified as an iTownship, which means it will “integrate digital technology, design innovations and connectivity into the entire development.”
“Our goal is to future-proof our first township here in Mindanao. This means, there will be features and facilities within the township that maximize smart innovations, use of Internet and digital lifestyle. The Davao Park District will become the ‘township of the future,’” Megaworld Senior Vice-President Jericho P. Go was quoted as saying in the statement.
As an iTownship, Megaworld said the 11-hectare Davao Park District will have fiber optic-ready infrastructure, designated bike lanes and bike rental systems, LED-powered signages and digital walls, public and street Wi-Fi access, electric car charging stations and Township Operations Centers, among others.
“We have designated teams to carefully study what we can put here on the immediate term and on the long term. From design, smart technology, mobility and connectivity, energy efficiency as well as safety and security, we will put in place all these features to benefit those who live, work and play in the township,” Mr. Go said.
The P1.2-billion Davao Finance Center, which offers 26,000 square meters of office space, is expected to be finished within the first half of 2018.
Megaworld emphasized the 14-storey building’s safety features, such as an Automatic Fire Suppression System, Fire Detection and Alarm Systems, and a 24/7 CCTV and communication system.
“We will be extra-compliant to what the national and local fire codes require because the safety and security of our office tenants will always remain to be our top priority,” Mr. Go added.
Also in Davao Park District, Megaworld is building One Republic Plaza, with 18,000 square meters of office space inventory, and the Emperador House, with around 10,000 square meters of office space inventory.
Megaworld said the local city council of Davao City recently endorsed the accreditation of the Davao Park District, particularly the area of these office towers, as an economic zone for information technology under the Philippine Economic Zone Authority.
Incorporated in 1989, Megaworld primarily engages in the development of master planned communities that include residential, commercial, leisure, and entertainment components.
Megaworld’s net income attributable to the parent grew 11% to P9.98 billion in the first nine months of 2017, against the P8.98 billion it generated in the same period in 2016. Revenues, meanwhile, increased 5% to P37.1 billion during the same period.
Megaworld is the real estate unit of tycoon Andrew L. Tan’s holding firm Alliance Global Group, Inc., which also has core investments in gaming through Travellers International Hotel Group, Inc., liquor through Emperador, Inc., and quick service restaurants through Golden Arches Development Corp.